Taxes on income, profits and capital gains in Philippines
Philippines: Taxes on income, profits and capital gains was 40.3% in 2024. ▲ Rising
Taxes on income, profits and capital gains in Philippines, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of total taxes.
Analysis
Philippines recorded 40.3% for taxes on income, profits and capital gains in 2024.
The figure is down 1.5% on the previous year and down 11.7% over ten years.
Over the whole period, taxes on income, profits and capital gains in Philippines peaked at 47.6% in 2011 and was at its lowest, 32.5%, in 1993.
That places Philippines 61st out of 153 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 35 years of available data.
Taxes on income, profits and capital gains in Philippines, year by year
| Year | % of total taxes | Change |
|---|---|---|
| 1990 | 32.5% | — |
| 1991 | 33.3% | +2.5% |
| 1992 | 33.5% | +0.6% |
| 1993 | 32.5% | -3.1% |
| 1994 | 33.9% | +4.2% |
| 1995 | 35.8% | +5.7% |
| 1996 | 37.1% | +3.5% |
| 1997 | 39.8% | +7.5% |
| 1998 | 44.0% | +10.4% |
| 1999 | 42.6% | -3.0% |
| 2000 | 44.1% | +3.3% |
| 2001 | 45.3% | +2.7% |
| 2002 | 44.6% | -1.4% |
| 2003 | 44.6% | -0.1% |
| 2004 | 46.0% | +3.2% |
| 2005 | 45.8% | -0.3% |
| 2006 | 43.8% | -4.3% |
| 2007 | 45.8% | +4.4% |
| 2008 | 46.0% | +0.4% |
| 2009 | 44.4% | -3.5% |
| 2010 | 44.7% | +0.9% |
| 2011 | 47.6% | +6.4% |
| 2012 | 47.2% | -0.8% |
| 2013 | 46.8% | -0.9% |
| 2014 | 45.7% | -2.4% |
| 2015 | 46.6% | +2.1% |
| 2016 | 46.5% | -0.2% |
| 2017 | 45.6% | -2.1% |
| 2018 | 40.4% | -11.4% |
| 2019 | 41.2% | +2.1% |
| 2020 | 41.7% | +1.4% |
| 2021 | 38.6% | -7.7% |
| 2022 | 38.4% | -0.3% |
| 2023 | 40.9% | +6.6% |
| 2024 | 40.3% | -1.5% |
Philippines compared with similar countries
- Philippines's 40.3% is above the median for upper middle income countries, which is 37.1%, 1.1× the median. (48 countries reporting)
- Philippines's 40.3% is above the median for East Asia & Pacific, which is 39.9%, 1.0× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 36.5% | 32.5% | 44.0% | 10 |
| 2000s | 45.0% | 43.8% | 46.0% | 10 |
| 2010s | 45.2% | 40.4% | 47.6% | 10 |
| 2020s | 40.0% | 38.4% | 41.7% | 5 |
Countries ranked near Philippines
More public sector data for Philippines
- Arms imports 238.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 2.05 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0005 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 90.4 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 238.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 52.81 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0133 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 18.96 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 6.12 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 419.22 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is taxes on income, profits and capital gains in Philippines?
- Taxes on income, profits and capital gains in Philippines was 40.3% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Philippines?
- The highest recorded value was 47.6% in 2011.
- What is the lowest taxes on income, profits and capital gains recorded in Philippines?
- The lowest recorded value was 32.5% in 1993.
- How does Philippines rank for taxes on income, profits and capital gains?
- Philippines ranks 61st out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Philippines?
- Over the last ten years it is down 11.7%. The long-run trend across the full record is rising.
- Where does this Philippines data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (% of total taxes). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 35 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.